First Responders: Inside the U.S. Strategy for Fighting the 2007-2009 Global Financial Crisis

Published by Yale University Press 2020

First Responders

Inside the U.S. Strategy for Fighting the 2007-2009 Global Financial Crisis

Edited by: Ben S. Bernanke , Timothy F. Geithner , Henry M. Paulson and J. Nellie Liang

https://doi.org/10.12987/9780300252743

Overview
Contents

About this book

An insider’s view of the U.S. government’s response to the 2007–2009 global financial crisis, recounted by the people who made the key decisions

Author / Editor information

Ben S. Bernanke is distinguished fellow in residence at the Brookings Institution and was chair of the Federal Reserve from 2006 to 2014. Timothy F. Geithner is president of the global private equity firm Warburg Pincus and was secretary of the Treasury from 2009 to 2013. Henry M. Paulson, Jr., is chairman of the Paulson Institute at the University of Chicago and was secretary of the Treasury from 2006 to 2009.

Topics

Frontmatter Publicly Available Download PDF	i
CONTENTS Publicly Available Download PDF	ix
ILLUSTRATIONS Publicly Available Download PDF	xi
TABLES Publicly Available Download PDF	xv
ABBREVIATIONS Publicly Available Download PDF	xvii
CHAPTER 1. The Financial Crisis and Its Lessons for the Future Ben S. Bernanke, Timothy F. Geithner and Henry M. Paulson Requires Authentication Unlicensed Licensed Download PDF	1
CHAPTER 2 The Use and Effectiveness of Conventional Liquidity Tools Early in the Financial Crisis William B. English and Patricia C. Mosser Requires Authentication Unlicensed Licensed Download PDF	49
CHAPTER 3. The Fed’s Novel Lender-of-Last-Resort Programs Lorie Logan, William Nelson and Patrick Parkinson Requires Authentication Unlicensed Licensed Download PDF	81
CHAPTER 4. Nonbank Financial Institutions: New Vulnerabilities and Old Tools Scott G. Alvarez, William C. Dudley and J. Nellie Liang Requires Authentication Unlicensed Licensed Download PDF	113
CHAPTER 5. The Legal Authorities Framing the Government’s Response Scott G. Alvarez, Thomas C. Baxter and Robert F. Hoyt Requires Authentication Unlicensed Licensed Download PDF	144
CHAPTER 6. Rescuing the Mortgage Giants Dan Jester, Matthew Kabaker, Jeremiah Norton and Lee Sachs Requires Authentication Unlicensed Licensed Download PDF	171
CHAPTER 7. Money Market Funds: Collapse, Run, and Guarantee Steven M. Shafran Requires Authentication Unlicensed Licensed Download PDF	193
CHAPTER 8. Recapitalizing the Banking System Dan Jester, David Nason and Jeremiah Norton Requires Authentication Unlicensed Licensed Download PDF	208
CHAPTER 9. The Temporary Liquidity Guarantee Program Michael H. Krimminger Requires Authentication Unlicensed Licensed Download PDF	226
CHAPTER 10. Bank Capital: Reviving the System Tim Clark, Matthew Kabaker and Lee Sachs Requires Authentication Unlicensed Licensed Download PDF	254
CHAPTER 11. Lessening the Impact of Bank Failures James R. Wigand Requires Authentication Unlicensed Licensed Download PDF	289
CHAPTER 12. Crisis-Era Housing Programs Michael Barr, Neel T. Kashkari, Andreas Lehnert and Phillip Swagel Requires Authentication Unlicensed Licensed Download PDF	320
CHAPTER 13. The Rescue and Restructuring of General Motors and Chrysler Brian Deese, Steven M. Shafran and Dan Jester Requires Authentication Unlicensed Licensed Download PDF	359
CHAPTER 14. Implementing TARP: The Administrative Architecture of the Troubled Assets Relief Program Timothy G. Massad and Neel T. Kashkari Requires Authentication Unlicensed Licensed Download PDF	385
CHAPTER 15. Monetary Policy during the Financial Crisis Donald Kohn and Brian Sack Requires Authentication Unlicensed Licensed Download PDF	421
CHAPTER 16. The Fiscal Response to the Great Recession: Steps Taken, Paths Rejected, and Lessons for Next Time Jason Furman Requires Authentication Unlicensed Licensed Download PDF	451
CHAPTER 17. International Coordination of Financial and Economic Policies Clay Lowery, Nathan Sheets and Edwin Truman Requires Authentication Unlicensed Licensed Download PDF	489
CHAPTER 18. Evidence on the Outcomes from the Financial Crisis Response J. Nellie Liang, Margaret M. Mcconnell and Phillip Swagel Requires Authentication Unlicensed Licensed Download PDF	529
ACKNOWLEDGMENTS Requires Authentication Unlicensed Licensed Download PDF	565
INDEX Requires Authentication Unlicensed Licensed Download PDF	569

Language: English
Publisher: Yale University Press
Pages
- Main content: 608
Illustrations
- Other: 85 b-w illus.

eBook

Published: February 4, 2020
ISBN: 9780300252743